Health Care Connect, LLC
Health Care Connect, LLC, located in Canton, Michigan, operates in the All Other Insurance Related Activities industry (NAICS 524298). The business was financed with an SBA 7(a) loan for a change of ownership of $1,959,500, approved by The Huntington National Bank on September 18, 2024.
SBA 7(a) loan, change of ownership, approved Sep 18, 2024
$1,959,500 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,959,500
- SBA-guaranteed amount
- $1,469,625 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.9%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- September 18, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $23,671 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 30, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 48
- Business type
- Corporation
- NAICS
- 524298, All Other Insurance Related Activities
- Project location
- Wayne County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-11
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in All Other Insurance Related Activities: $2,537,500.
- Average acquisition loan in Michigan: $1,645,728.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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